The possibility of the state taking back more money at midyear — on the heels of unprecedented state budget cuts — has Boulder Valley School District officials considering dipping into reserves.

Boulder Valley and other Colorado school districts already made deep cuts to the current year’s budget after a 6 percent cut to state K-12 funding.

Now, according to a forecast presented to lawmakers, the state budget is as much as $257 million short in the fiscal year that ends in June and faces a shortfall of almost $1.1 billion in the next fiscal year.

“It would be difficult to balance a shortfall of that magnitude without impacting K-12,” said state budget director Todd Saliman.

Gov. Bill Ritter filled a nearly $60 million shortfall in the current year. Ritter said he relied largely on one- time measures such as tapping cash funds to protect K-12 education.

Knowing more state cuts were possible, state officials have urged school districts not to spend all the money they received from the $10 billion federal education-jobs program.

Boulder Valley distributed about $3 million of its $5.4 million share to schools in August, and they used the money to hire teachers and other staff members.

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